|The Racing Post has reported that betting exchange, Betdaq, is offering on-track bookies the chance of a free stake in its new venture, Racecourse Data Technology. Betdaq has teamed up with Winning Odds, which supplies systems and services to around 200 on-track customers, and together they are working on software that will link into the computer-assisted starting-price system operated by SIS, and provide a hedging facility as well direct access to the exchange markets. The company will be offering free shares to participating bookmakers.|
Betdaq has spotted an opportunity to challenge the dominance of Betfair. Winning Odds director, Maurice Lindsay, told the Racing Post that Betfair’s failure to join a single on-course computerised system, allowed the company to step in and look at a solution that would allow on-course bookmakers a direct interest in the business.
“There are huge benefits for the bookmakers,” he said. “[They] will have ownership of the business, with the prospect of dividends down the line.
'Bookmakers will also receive a new software system for free, which they will own; they will pay only two per cent commission across the board for hedging with Betdaq, and they will be able to view each other's prices. I believe it's a very attractive proposition.'
Betdaq’s Rob Hartnett added: 'The licence with RDT will be non-exclusive, so bookmakers will be able to access other exchanges, as well as Betdaq, unlike the other system in use at the moment, which limits bookmakers to using one exchange.'